The British economy is still in recession

according to the report of the international group Tasnim News Agency, according to the “SRF” of Switzerland, Germany, based on the report of the British Statistics Office ONS, in the fourth quarter of last year The country’s gross domestic product (GDP) decreased by 0.3 percent compared to the previous quarter.

England as the second largest economy in Europe already in the third quarter of last year 0.1 The percentage had shrunk. When economic output declines for two consecutive quarters, economists speak of a technical recession.

Analysts were surprised by the severity of this recession. They only expected an average decline in economic output of 0.1 percent for October to December.

As the British Statistics Office also announced, the economic performance in December compared to the month It has been weaker before, with a 0.1 percent decline reported for December. Additionally, GDP was somewhat weaker in November. This increase was revised down to 0.2% after the previous report of 0.3% increase.

It was surprisingly strong against British industrial production. This production in December increased by 0.6% compared to the previous month. Analysts had expected a slight decline. Additionally, manufacturing growth in November was better than previously reported.

Experts assess this economic recession as a big blow to the government of Rishi Sunak, the current British Prime Minister, who He is set to leave his fate at the polls this year, at a time when his Conservative Party is already far behind Keir Starmer’s Labor Party.

end of message/